- Franchise Group Inc FRG revealed the receipt of an unsolicited non-binding proposal to acquire all of its outstanding shares at $30.00 per share in cash.
- The offer represents a premium of 32% to the company's last closing price of $22.75.
- The Board of Directors will carefully evaluate the proposal to determine the course of action, said the company.
- Franchise Group made no assurance that the proposal would result in a transaction.
- Last year, retailer Kohl's Corporation KSS called off discussions with Franchise Group to sell its business.
- In January, there were reports that the company considered going private through a management buyout.
- Franchise Group's business lines include Pet Supplies Plus, Wag N' Wash, American Freight, The Vitamin Shoppe, Badcock Home Furniture & More, Buddy's Home Furnishings, and Sylvan Learning.
- On a combined basis, Franchise Group currently operates over 3,000 locations, predominantly in the U.S.
- Price Action: FRG shares are trading higher by 9.65% at $24.94 on the last check Monday.
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